ValueVision International reports wider Q3 loss

SteveGelsi

NEW YORK (CBS.MW) -- ValueVision
vvtv
on Tuesday reported a third-quarter net loss of $34.6 million, or 94 cents per share, compared with a net loss of $2.8 million, or 8 cents per share, in the year-ago period. Revenue fell to $144 million from $150 million. The company took an $11.3 million charge for asset impairments after the loss of a partnership contract at its FanBuzz unit, and a $3.3 million charge for the elimination of positions within the company. The Minneapolis-based operator of the ShopNBC home shopping network was expected to report a loss of 70 cents per share, according to a survey of analyts by Thomson First Call. Shares of ValueVision Media rose 50 cents to $11.70 on Monday.

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